During the last week of October I did something I have not done in nearly 20 months or 87.5 weeks or 612 days. I attended two conferences back to back. I was in Marco Island, Florida to attend the RE/MAX Premier Broker Summit, spoke on a panel, masterminded with my peers and did team building exercises. All in person.

Then I took two 3 hour flights with a 90 minute layover in between and flew to Vegas Baby!!

The first Inman conference in person in nearly 2 years took place. It’s good to be back and learning in person.

What was extremely refreshing about the events I attended was the fact that COVID-19 didn’t have a place at the table. Not that it was shoved under a rug, but that it was framed as a negative world event in our lives which had a profound impact on the way we do business.

So what are the words of wisdom that I can impart? What were those golden nuggets, and what were the themes that will shape our industry in the near future?

The Speed of the Market

During the last 12 months we have been experiencing the ‘last minute economy’. Consumers have been buying real estate at a voracious rate. Buyers call - you jump, sellers call - you jump. Many successful agents have been complaining they have not had an opportunity to breathe. As a result there is a need for REALTORS® to incorporate speed and efficiency. Also the notion of life-work balance has really been a hot topic for us as REALTORS® and it is important to take charge of your life.

The Bubble…What Bubble?

Ryan Serhant said it well, “You’re not buying at a premium today. You’re buying at tomorrow’s discount”. So true. The US and Canada have a housing crisis on our hands. The US, like Canada, are behind in creating housing. The low inventory situation we are in, is here to stay for the near future.

The other big question at Inman was ‘When is the music going to stop?’ With the strength of organically driven demand, not to mention impending immigrant demand, tons of home owner equity and a barge full of consumer savings, the median term bodes well for our industry.

Content is the Key to Growth and Survival

There is no one in the current real estate space who has more COVID-19 chutzpah then Ryan Serhant. In early 2020 he started a new real estate company. In February 2020, as ambulance sirens were blaring in the streets he was setting up a new office. How did he turn his start-up during a very tense time into a powerhouse.

First, he developed his core identity, created consistent content, and shouted it from the rooftops!!! Serhant explains, “It’s about clear honest communication.” His so-called content commerce is produced and re-purposed constantly. He has developed a podcast whereby he interviews successful people outside of real estate, and in turn these people become his new network. And he distributes all of this content through social. What are you all waiting for? Content creation and distribution is within the realm of possibilities for of all of us.

Changing Relationships and the Birth of the Fintech industry in Real Estate

What are Fintech companies? Simply defined, they are companies which integrate technology into financial service companies in order to improve the customer finance journey.

Financing and affordability is replacing listing search at the top of the funnel. The rapid increase in property values have shifted the way consumers dive into the real estate market. They are finding out how much they can afford before they online shop for homes. So savvy mortgage originators, be they A or B lenders are creating platforms which bring more liquidity to the market.

These Fintech companies do everything from traditional lending, to bridge loans to buying your home through their ibuyer platforms. These companies are going to be the Zillow’s of the future from a lead generation perspective. They will be the first point of contact for consumers looking for innovative financial products enabling them to buy a property. And once the consumer is financially ready, they will in turn refer to REALTORS®. Re-ordering the referral relationship from REALTOR® to lender to lender to REALTOR®.

The Time Has Come…..

To make a deal with your real estate destiny!!!

Recharge your vision and your passion. Re-engineer some of your lender relationships and partner with them from a lead generation perspective. The good news is that Real Estate is not a winner take all industry. There is not one platform which will secure world domination.

And don’t make decisions based on ‘your best year syndrome’ which most of us are in now. Make decisions as if the music is going to slow down. We are entering the shortage economy, and our watering hole of listings may experience shrinkage. How are you going to shine for buyers and sellers under this new market phenomenon?

Each one of us can put our DNA into this industry by creating and distributing high value content. REALTORS® have always excelled in creating solutions for consumers. It’s time we embrace the shift from listing search to affordability. By uncovering intel on neighborhood performance and partnering with a best in class financial team.

In the paraphrased words of Brad Inman ‘Your competitors are arguing about which seat they are going to have on the rocket ship’. You in turn should be steering that rocket ship, and controlling the narrative in the neighborhoods and specialties you work in.